Nisa Investment Advisors LLC Lowers Position in Quanta Services, Inc. (NYSE:PWR)

Nisa Investment Advisors LLC cut its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 5.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,606 shares of the construction company’s stock after selling 2,535 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Quanta Services were worth $12,107,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PWR. Tower View Wealth Management LLC boosted its holdings in shares of Quanta Services by 37.0% during the third quarter. Tower View Wealth Management LLC now owns 16,679 shares of the construction company’s stock worth $4,973,000 after purchasing an additional 4,503 shares during the period. Cavalier Investments LLC lifted its position in Quanta Services by 5.6% during the 3rd quarter. Cavalier Investments LLC now owns 1,300 shares of the construction company’s stock valued at $388,000 after acquiring an additional 69 shares during the period. Valley National Advisers Inc. boosted its position in shares of Quanta Services by 2,733.5% in the 3rd quarter. Valley National Advisers Inc. now owns 6,942 shares of the construction company’s stock worth $2,068,000 after purchasing an additional 6,697 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in Quanta Services by 3.0% in the third quarter. DekaBank Deutsche Girozentrale now owns 517,038 shares of the construction company’s stock worth $155,196,000 after acquiring an additional 14,865 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in Quanta Services by 40.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 51,845 shares of the construction company’s stock valued at $15,458,000 after purchasing an additional 14,983 shares during the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PWR. TD Cowen lifted their price objective on Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. initiated coverage on Quanta Services in a research report on Monday, October 7th. They set a “neutral” rating and a $297.00 price objective on the stock. UBS Group increased their price target on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Citigroup lifted their price objective on shares of Quanta Services from $302.00 to $348.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Finally, Jefferies Financial Group assumed coverage on Quanta Services in a report on Wednesday, September 4th. They issued a “hold” rating and a $256.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $308.07.

Insider Buying and Selling at Quanta Services

In other news, CEO Earl C. Jr. Austin sold 130,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total transaction of $34,087,300.00. Following the completion of the transaction, the chief executive officer now directly owns 593,402 shares of the company’s stock, valued at approximately $155,595,938.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Earl C. Jr. Austin sold 130,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $262.21, for a total transaction of $34,087,300.00. Following the completion of the transaction, the chief executive officer now directly owns 593,402 shares of the company’s stock, valued at $155,595,938.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the sale, the insider now directly owns 21,286 shares in the company, valued at $5,490,297.98. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 202,357 shares of company stock valued at $53,115,572. 1.10% of the stock is owned by company insiders.

Quanta Services Stock Performance

Shares of PWR stock opened at $311.50 on Thursday. Quanta Services, Inc. has a 52 week low of $153.74 and a 52 week high of $317.91. The stock has a market capitalization of $45.89 billion, a PE ratio of 58.77 and a beta of 1.01. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.45. The firm has a 50 day moving average of $288.27 and a two-hundred day moving average of $271.82.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.75 by $0.15. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The company had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period in the prior year, the firm posted $1.47 earnings per share. The firm’s revenue was up 10.8% on a year-over-year basis. On average, research analysts predict that Quanta Services, Inc. will post 7.82 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date of this dividend was Tuesday, October 1st. Quanta Services’s payout ratio is currently 6.79%.

About Quanta Services

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. The company’s Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.